Why is it that 8 out of 10 businesses fail within a year? What is it that entrepreneurs need to know when building their businesses or brands?

Your brand is your house, how you build it is very important. Just like any structure your business/ brand should consist of all the elements required to build something solid.FOUNDATION

Foundation- Your beliefs, thoughts, and intentions.If you don't have a strong foundation, you will never build anything solid. A foundation is the most important component of any structure. While pouring a foundation may not be a visually exciting as seeing a house go up in its recognizable form, it is critical to get it right. When a house is built, the strength of its foundation is key. This is the anchor that supports the entire structure, preventing it from blowing away and holding it strong and steady despite potentially changing climates and conditions.

Your beliefs -Have solid values, have principles, understand that you're in this for a long run and if you want to see it flourish, you need to put in the work required, no short cuts.

Your intentionsYour intentions is what will be the true test of your business (life span). If your business is built on false intentions, it will be easy for it to be destroyed by anything.

STRUCTURE

Consistency-Be consistent in what you do, be patient, understand this stage is also very necessary if it is not the most crucial, this is the stage where most entrepreneurs give up because it seems like putting so much effort into something and not really getting anywhere at the end of the day.No effort is ever too small or insignificant when it comes to building your brand.

Adaptation

-You need to be able to know what to do when the storm comes, do you abandon mission and run for cover or do you come up with new ways to continue your project? The world is constantly ever changing and the environment might not always be favourable but that should not be your excuse to give up.

Be like the eagle, soar above your storms.

ROOF

Protection.

-A house without a roof leaves the structure unprotected and vulnerable, like an orphaned lamb released near a pack of wolves, you need to protect your business. This is making sure that you get a return on your investments, you need to be savvy with your money, before you invest in anything, make sure it makes business sense! Put structures or systems in place to make sure that even if times are tough you still sustain business.

Capital

We live in a world that is driven by capital and therefore makes sense for you to know/learn how to make money within your organization to keep your house standing. Don't be apologetic about closing big deals and collecting as much money as possible, if it is something you do just for the thrill of it or to prove a point, please by any means necessary, do it!

Integrity.

Part of building your brand is building a good reputation, always do what is right even when nobody is watching. Don't ever compromise your values to save your skin. remember that unprotected walls suffer high rates of water entry and premature failure, you need a house that will still be standing a hundred years from now, so build your house right.

EXCLUSIVE!The Gigabyte foundation, transforming the lives of young South Africans.